It is time to rethink your PR agency structure because the world of brand marketing has changed to the point where simply you no longer gain direct access to your consumer’s attention. You are fighting thousands of distractions in the moment, and yet being the loudest is not going to help.
Online Reviews Make An Agency’s Job More Difficult
There are now so many online review websites and portals that a PR agency’s job has just become a lot harder, to the point where new business associates are essential if PR agencies want to make an impact.
You have to remember that modern businesses are running scared thanks to the new wave of online reviews, especially those businesses in the service industry. As the TV show South Park recently pointed out, businesses are running themselves into the ground to provide an over-the-top service to their customers for fear of a bad online review.
PR agencies need to be restructured in order to cope with the new pressure and threat of review-ready consumers that may have already written their negative review on Yelp before the waiter has brought their dessert.
Restructuring The Way Money Is Spent
The online review tsunami is not the only pressure being applied to PR agencies. They also need to find ways to allocate their spending in a way that buys the most leverage. PR companies are being forced to spend money in a very fragmented way in order to promote and manage the reputation of a company. Yet, it is very easy to spend money in different areas and still come away with very little leverage.
You have to remember that twenty years ago the CMO’s problem was that their advertising wasn’t good enough. Nowadays the CMO’s concern is how good the advertising is, the stock price, company profits, company revenue, and/or the company image.
There Is No Single Answer
The PR agencies that are restructuring the way they work with the hopes of finding the Holy Grail via a new marketing method that provides consistent results and a lot of leverage, are going to be woefully disappointed. There is no single answer. To survive, a PR agency will have to diversify their attention and their resource allocation, and they will have to get on board with newer technologies, platforms and players.
Launching many products in one year cannot be done via traditional marketing. The ability to work across disciplines, if not in them, is vital today.
There is a lot of noise and confusion out there, and companies want to know if they are putting their resources in the right place. There is now less margin for error and there is a faster market pace. PR agencies need to restructure the way they work, or they will never engage the distracted consumer.
Broadgate Mainland is a London based PR agency headed by Mark Knight which specializes in financial services, public relations amongst many other services.